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NEWS
August 9, 2011
Fuel refiner and seller Sunoco Inc., of Philadelphia, said it will repurchase up to $500 million of its outstanding common stock. Chief executive Lynn L. Elsenhans called the move an "appropriate and strategic use of the company's cash while still allowing the flexibility to continue pursuing growth in our retail and logistics businesses. " Shares closed up $1.17, or 3.91 percent, to $31.11. As of June 30, Sunoco had approximately 121.6 million shares outstanding.    - Reid Kanaley
NEWS
June 22, 2000 | YONG KIM/ DAILY NEWS
A yellow cloud of gritty material from the Sunoco oil refinery blankets South Philadelphia last night. It caused burning eyes and coughing, but company officials said the dust from the 3 p.m. venting posed no threat to residents.
BUSINESS
April 17, 2009 | By Harold Brubaker INQUIRER STAFF WRITER
Sunoco Inc. said yesterday that it was selling its Tulsa, Okla., oil refinery to Holly Corp. for $65 million. The Tulsa refinery, with the capacity to process 85,000 barrels of crude oil a day, is the smallest of Sunoco's five refineries, which include three in the Philadelphia area. The deal is expected to close June 1, pending regulatory approvals, Philadelphia-based Sunoco said. The sale comes at a time when some analysts expect refiners to close some of the smaller U.S. refineries because demand for gasoline and other refined products is down.
BUSINESS
January 23, 2004 | By Harold Brubaker INQUIRER STAFF WRITER
Lower-than-expected profit margins in refining and a 25-day maintenance shutdown at its South Philadelphia refinery caused Sunoco Inc.'s fourth-quarter refining profit to fall by more than half, to $20 million from $48 million, the company reported yesterday. On the news, the Philadelphia company's shares gave back little of the more than $20 they had gained since August, falling 1 percent, to $56.07. Shares in independent petroleum refiners are at a cyclical peak, with many analysts seeing them headed into a period of strong profit because of, among other factors, clean-fuel regulations that tighten supply.
BUSINESS
February 27, 2009 | By Jeff Gelles INQUIRER STAFF WRITER
As Sunday's expiration of their contract with Sunoco Inc. nears, workers at the company's Philadelphia and Marcus Hook refineries yesterday stepped up efforts to protest staffing cutbacks they say will endanger workers and nearby neighborhoods. Several hundred refinery workers rallied outside Philadelphia's City Hall, then marched to Sunoco's headquarters. Union officials said they presented petitions against the cutbacks signed by about 2,000 people who live near the refineries.
SPORTS
July 10, 2008 | By BILL FLEISCHMAN For the Daily News
Think it's a snap supplying racing fuel to NASCAR's teams? For Philadelphia-based Sunoco, now in its fourth year as NASCAR's official fuel, it takes extensive planning. "Our planning begins months ahead of the event," Thomas Golembeski, Sunoco's manager of media and public relations, said this week. "Once the fuel gets onto the dedicated fleet of Sunoco tankers, there's a strict chain of custody from the moment the fuel leaves the plant until it arrives at the track. "There are about 100 people on regional crews that oversee that process.
BUSINESS
June 29, 1999 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
Sunoco is urging summer travelers to get "pumped up. " But investors in the century-old Philadelphia petroleum processor haven't had a lot to celebrate lately. The U.S. oil refining and marketing industry is in a funk. Gasoline prices have been rising more slowly than crude oil costs, and that squeezes gas merchants such as Sunoco. This is, as chairman Robert H. Campbell puts it, "a tough, dog-eat-dog business. " At a Philadelphia Securities Association luncheon last week, he admitted Sunoco won't meet its 15 percent earnings-growth target this year.
NEWS
May 10, 2009 | By Lini S. Kadaba INQUIRER STAFF WRITER
Workers spent much of yesterday cleaning up a gasoline leak at a Sunoco storage facility in Upper Chichester that has affected aquatic life in a tributary to Marcus Hook Creek, a spokesman for the state Department of Environmental Protection said. A witness driving by the scene at 11:30 p.m. Friday noticed a "geyser of gasoline" gushing from the Sunoco pump station on Route 322 in Twin Oaks and notified authorities, DEP spokesman Dennis Harney said. He said officials estimated that thousands of gallons of gasoline had spilled.
NEWS
January 18, 2012
Sunoco Inc., distributed 56.7 million shares of SunCoke Energy Inc. to its shareholders, completing the spin-off of its metallurgical coke subsidiary. Sunoco no longer owns any shares of SunCoke. Sunoco shareholders received 0.53046456 share of SunCoke common stock; each fractional share was worth $6.82 at the market close on Wednesday. Sunoco shares closed Wednesday at $37.07. That means the value of a Sunoco shareholder's investment in the two companies increased about 3.7 percent in trading Wednesday on the New York Stock Exchange.
NEWS
August 5, 2011
Sunoco Inc. said it has acquired leasehold interests in 14 convenience store locations in central Pennsylvania from the Shipley Group, a private York, Pa., company that operates the outlets as Tom's Stores. Terms were not disclosed. The Philadelphia refiner, which is shifting its focus from manufacturing to retailing, expects to convert the outlets to the Sunoco and APlus brands by the end of 2011. The stores are in Adams, Cumberland, Lancaster, Perry and York Counties.
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BUSINESS
February 20, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Logistics Partners L.P., the Philadelphia pipeline company, reported a fourth-quarter net loss to partners of $127 million that it blamed on the decline in energy commodity prices. The company said the loss includes a $258 million non-cash write down of its inventory. It said the write-down "represents a base operating level that is not expected to have a financial impact in the foreseeable future" and would not affect the partnership's cash distribution. Excluding the one-time event, adjusted earnings before interest, taxes, depreciation and amortization - EBITDA -- for the three months ended Dec. 31 was $237 million, a $27 million increase compared to the fourth quarter 2013.
BUSINESS
February 7, 2015 | By Andrew Maykuth, Inquirer Staff Writer
The $3 billion Mariner East project linking the Marcellus Shale region to the Philadelphia area is expected to generate widespread economic benefits, according to a study released Thursday by the pipeline's builders. The study, by Econsult Solutions Inc., says the project will generate a one-time economic impact of $4.2 billion to Pennsylvania's economy, support more than 30,000 jobs during the two-year construction period, and create about 300 to 400 permanent jobs. Econsult said a "majority" of the economic impact would be in Southeastern Pennsylvania, where the project's builder, Sunoco Logistics Partners L.P., is developing the former Marcus Hook refinery in Delaware County to receive, store, and process the liquid fuels that will be delivered through the cross-state pipeline.
BUSINESS
February 6, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Logistics Partners L.P., which has irked a number of community groups with its cross-state pipeline plans, has done it again by holding community events that appear to be open only to a select audience. Environmental groups on Wednesday expressed outrage over a series of "open houses" Sunoco is conducting to explain its Mariner East 2 pipeline project, which would deliver natural gas liquids from the Marcellus Shale to Marcus Hook. Sunoco sent out invitations to its latest "community open house," set for Wednesday night at a fire hall in Mechanicsburg, Pa. "Please note this invitation is for landowners and local officials directly impacted by the project on their property and is not transferable," the letter states.
BUSINESS
January 29, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Logistics Partners L.P., the Philadelphia pipeline and fuel terminal operator, increased its cash distribution Tuesday for the 39th straight quarter. The company will pay 40 cents per common unit on Feb. 13 to unit-holders of record on Feb. 9, a 5 percent increase over the previous quarter's distribution of 38.25 cents. The boost represents a 21 percent increase over the 33.12-cent-per-unit distribution 12 months ago. Among its projects, Sunoco Logistics is building the Mariner East pipeline to transport natural gas liquids from the Marcellus Shale region to its Marcus Hook Industrial Complex on the Delaware River.
NEWS
November 12, 2014 | By Andrew Maykuth, Inquirer Staff Writer
  Sunoco Logistics Partners L.P., the Philadelphia energy company, said that all recoverable crude oil has been removed after its Mid-Valley Pipeline ruptured and spilled on Oct. 13 in Northwest Louisiana. Sunoco spokesman Jeffrey P. Shields said the company recovered about 4,100 of an estimated 4,500 barrels of spilled oil. Some oil was unrecoverable due to evaporation and dispersion. About 20 workers will remain on site to monitor the area, he said. The spill polluted about four miles of a creek feeding Caddo Lake, and prompted the evacuation of three homes.
BUSINESS
October 28, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Logistics Partners L.P., the Philadelphia energy company, said it resumed deliveries of crude oil Sunday on its Mid-Valley Pipeline, which shut down Oct. 13 following a rupture and spill in Northwest Louisiana. Sunoco spokesman Jeffrey P. Shields said the repaired pipeline was operating at 80 percent of maximum operating pressure under orders of the federal Pipeline and Hazardous Materials Safety Administration. The pipeline delivers crude oil from Texas to Midwestern refineries and terminates near Detroit.
BUSINESS
October 28, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco and its iconic ticker symbol SUN reappeared Monday on the New York Stock Exchange after a two-year absence. This time it comes with a Texas accent. Sunoco L.P. is the new name adopted by Susser Petroleum Partners L.P., a Texas company acquired recently by Sunoco's parent, Energy Transfer Partners L.P. The new incarnation of Sunoco will become the repository for ETP's growing fuel-distribution system and far-flung portfolio of convenience stores. "We are proud to reintroduce the SUN ticker symbol, which traded on the New York Stock Exchange for almost 87 years until the sale of Sunoco Inc. in 2012 to our parent company, Energy Transfer Partners L.P.," said Bob Owens, Sunoco L.P. chief executive.
BUSINESS
October 17, 2014 | By Andrew Maykuth, Inquirer Staff Writer
A Louisiana oil spill is adding to anxiety for Pennsylvania residents who live near the Mariner East pipeline connecting the Marcellus Shale to Marcus Hook. Sunoco Logistics Partners L.P. of Philadelphia on Tuesday supervised cleanup operations in Northwest Louisiana after its Mid-Valley pipeline on Monday leaked thousands of gallons of crude oil into a creek that feeds Lake Caddo, near Shreveport. Monday's incident was the second major spill along the 65-year-old Mid-Valley pipeline this year.
BUSINESS
October 4, 2014 | By Linda Loyd, Inquirer Staff Writer
Sunoco Logistics Partners and its proposed Marcellus Shale Mariner East project have public utility status, the Pennsylvania Public Utility Commission ruled Thursday. The decision was a victory for Sunoco, which is repurposing a petroleum pipeline to transport Marcellus Shale ethane and propane to Marcus Hook. The commission noted that Sunoco's pipeline routes and services have been certificated as public utilities since the early 1930s. "Sunoco's amended petitions adequately plead sufficient facts for the commission to find that it is both a 'public utility' and a 'public utility corporation,' " said PUC vice chairman John F. Coleman Jr. and commissioner Pamela A. Witmer in a joint motion approved 4-1 by the commission.
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